SHV vs. SWVXX

Last updated Jun 23, 2026

SHV (iShares 0-1 Year Treasury Bond ETF) and SWVXX (Schwab Prime Advantage Money Fund Investor Shares) are both funds - SHV is a Government Bonds fund tracking the ICE Short US Treasury Securities Index, while SWVXX is a Money Market fund actively managed by Charles Schwab. SHV is passively managed, while SWVXX is actively managed. Over the past 5 years, SHV returned 3.35%/yr vs 3.14%/yr for SWVXX. At a 0.09 correlation, their price movements are largely independent. SHV charges 0.15%/yr vs 0.34%/yr for SWVXX.

Performance

SHV vs. SWVXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 0-1 Year Treasury Bond ETF (SHV) and Schwab Prime Advantage Money Fund Investor Shares (SWVXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHV achieves a 1.58% return, which is significantly higher than SWVXX's 1.45% return.

SHV

• 1D: -0.01%
• 1M: 0.25%
• YTD: 1.58%
• 6M: 1.68%
• 1Y: 3.83%
• 3Y*: 4.60%
• 5Y*: 3.35%
• 10Y*: 2.23%

SWVXX

• 1D: 0.00%
• 1M: 0.29%
• YTD: 1.45%
• 6M: 1.77%
• 1Y: 3.85%
• 3Y*: 4.56%
• 5Y*: 3.14%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SHV vs. SWVXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SHV iShares 0-1 Year Treasury Bond ETF	1.58%	4.21%	5.12%	5.04%	0.94%	-0.09%
SWVXX Schwab Prime Advantage Money Fund Investor Shares	1.45%	4.15%	5.16%	5.04%	0.00%	0.00%

Correlation

The correlation between SHV and SWVXX is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (All Time) Calculated using the full available price history since May 25, 2021	0.09

Return for Risk

SHV vs. SWVXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SHV

SHV Risk / Return Rank: 100
SHV Sharpe Ratio Rank: 100
SHV Sortino Ratio Rank: 100
SHV Omega Ratio Rank: 100
SHV Calmar Ratio Rank: 100
SHV Martin Ratio Rank: 100

SWVXX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SHV vs. SWVXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 0-1 Year Treasury Bond ETF (SHV) and Schwab Prime Advantage Money Fund Investor Shares (SWVXX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SHV	SWVXX	Difference
Sharpe ratio: Return per unit of total volatility	18.56	3.71	+14.85
Sortino ratio: Return per unit of downside risk	98.01	—	—
Omega ratio: Gain probability vs. loss probability	35.59	—	—
Calmar ratio: Return relative to maximum drawdown	141.48	—	—
Martin ratio: Return relative to average drawdown	1,585.41	—	—

SHV vs. SWVXX - Sharpe Ratio Comparison

The current SHV Sharpe Ratio is 18.56, which is higher than the SWVXX Sharpe Ratio of 3.71. The chart below compares the historical Sharpe Ratios of SHV and SWVXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SHV vs. SWVXX - Drawdown Comparison

The maximum SHV drawdown since its inception was -0.45%, which is greater than SWVXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SHV and SWVXX.

Drawdown Indicators

	SHV	SWVXX	Difference
Max Drawdown Largest peak-to-trough decline	-0.45%	0.00%	-0.45%
Max Drawdown (1Y) Largest decline over 1 year	-0.03%	0.00%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-0.03%	0.00%	-0.03%
Max Drawdown (5Y) Largest decline over 5 years	-0.39%	0.00%	-0.39%
Max Drawdown (10Y) Largest decline over 10 years	-0.45%	—	—
Current Drawdown Current decline from peak	-0.01%	0.00%	-0.01%
Average Drawdown Average peak-to-trough decline	-0.03%	0.00%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.00%	0.00%

Volatility

SHV vs. SWVXX - Volatility Comparison

The current volatility for iShares 0-1 Year Treasury Bond ETF (SHV) is 0.07%, while Schwab Prime Advantage Money Fund Investor Shares (SWVXX) has a volatility of 0.29%. This indicates that SHV experiences smaller price fluctuations and is considered to be less risky than SWVXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHV	SWVXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.07%	0.29%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	0.13%	0.70%	-0.57%
Volatility (1Y) Calculated over the trailing 1-year period	0.21%	1.10%	-0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.29%	1.09%	-0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.28%	1.09%	-0.81%

SHV vs. SWVXX - Expense Ratio Comparison

SHV has a 0.15% expense ratio, which is lower than SWVXX's 0.34% expense ratio.

Dividends

SHV vs. SWVXX - Dividend Comparison

SHV's dividend yield for the trailing twelve months is around 3.83%, more than SWVXX's 3.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SHV iShares 0-1 Year Treasury Bond ETF	3.83%	4.09%	5.02%	4.73%	1.39%	0.00%	0.74%	2.19%	1.66%	0.72%	0.34%	0.03%
SWVXX Schwab Prime Advantage Money Fund Investor Shares	3.77%	4.06%	5.02%	4.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SHV and SWVXX in my portfolio?

SHV and SWVXX have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHV or SWVXX?

SWVXX has higher volatility (0.29%) compared to SHV (0.07%). In terms of maximum drawdown, SHV dropped -0.45% vs SWVXX's 0.00%.

Which has better risk-adjusted returns?

SHV currently has the higher Sharpe Ratio (18.56 vs 3.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.